Anti-Corruption Efforts will Require some "Visible Prosecutions" President Obama opined that it was "absolutely the right thing to do for President Kenyatta [to] emphasize" the Kenyan government's stepped-up anti-corruption efforts. He called public corruption potentially "the biggest impediment to Kenya growing even faster." "Just a math issue" Business efforts being "constantly sapped" was a real … Continue reading “Just a math issue”: Anti-Corruption Efforts in Kenya take Center-Stage for Obama
Chimera or Reality -- Is Africa stepping up its anti-graft game? If one is to believe the media attention that has been bestowed upon anti-corruption enforcement by various African jurisdictions, there has been an uptick in successful anti-graft campaigns across the continent. Or is there...? Has Africa truly embraced the prosecution of well-to-do businessmen and … Continue reading Increased anti-corruption enforcement across Africa?
Will technological tender process end the reign of "tender-preneurs"? Biztech Africa's Tom Jackson reports from Connected East Africa conference in Diani, Kenya, that former Kenyan permanent ministry secretary Dr Bitange Ndemo has given a speech on how corruption is holding back technological investment in the country. The paper reports that development as a tech hub … Continue reading “Tender-preneurs” holding back tech investment in Africa
As the BBC reports, Kenyan President Uhuru Kenyatta has suspended four members of his cabinet in addition to 12 other government officials due to their being implicated in allegations of corrupt acts. The primarily affected ministries were transport, energy, labour and agriculture. (UPDATE: A fifth minister vacated her post on Sunday, three days after the original action by … Continue reading Kenya suspends 16 officials for corrupt acts, including 4 ministers
Averting their eyes from Africa: Goodyear's $16m Kenya/Angola settlement highlights risk of insufficient due diligence Andreas Stargard. "Foreign acquirers must understand and -- likely -- challenge the status quo of their new African subsidiaries" When acquiring an African company, nothing is "business as usual." Neither pre- nor post-acquisition can foreign parent corporations simply avert their … Continue reading Halliburton to Goodyear: FCPA risks and due diligence in foreign acquisitions
Chinese Investors See East African Corruption As Hurdle to further Investments Welcome to 2015, AAF readers. Our editors and staff are looking forward to a great New Year of providing you with news and insights into anti-corruption and fraud-prevention on the African continent. Our first story of the year hails from East Africa, when … Continue reading Perceived Corruption Hampers Asian Investment in Kenya
Kenya and FedEx: Possible breach of FCPA anti-bribery provision According to Wall Street Journal and Law360 reports, two powerhouses (one country, one company) are involved in a recent self-reported FCPA violation: FedEx Corporation has reported possible infractions of the foreign anti-bribery law in Kenya to the United States Department of Justice. According to the … Continue reading FCPA investigation hits FedEx in Kenya
Survey shows that perception of corruption & bribery on the rise As also reported by BDLive's Evan Pickworth, a recent Ernst & Young survey shows that the perception of widespread bribery and corruption by South African executives has increased climbed by 16% to an overall 78% response. The article mentions the "high-profile regulatory enforcement [that] … Continue reading Survey shows perception gap and increased corruption